SUSHIL KUMAR Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) WE have heard counsel for the petitioner and are satisfied that the following question of law arises out of the order of "Whether, on the facts and circumstances of the case, the Tribunal was right in holding that the provisions of s. 52(2) of the IT Act, 1961, are automatically attracted to a case where the difference in the market price and the apparent consideration was more than 15 per cent -

(2.) ACCORDINGLY , we direct the Tribunal to draw up a statement of the case and refer the aforementioned question of law for consideration by this Court.

(3.) THE petition is, accordingly, allowed.